Crude palm oil prices extended losses by falling Rs 8.30 to Rs 459.60 per 10 kg in futures trade today on profit-booking by speculators, driven by subdued spot market trend.
A weak trend in overseas market fuelled the downtrend in crude palm oil futures.
At the Multi Commodity Exchange, crude palm oil for September delivery declined by Rs 8.30, or 1.77%, to Rs 459.60 per 10 kg, with a business turnover of 114 lots.
The October contract fell Rs 8.20, or 1.75%, to Rs 460.50 per 10 kg, with a business turnover of 700 lots.
Traders said besides profit-taking by speculators on subdued domestic demand, a weak overseas trend led to a fall in crude palm oil prices at futures market.
Meanwhile, palm oil dropped 1.8% to $851 a tonne on the Malaysia Derivatives Exchange.
They said the oil in overseas markets slipped to its biggest quarterly loss since 2008 on concerns that stimulus measures will fail to revive economic growth.
